Water Pik owners looking for exit: sources
(Reuters) - Water Pik, which makes oral hygiene products and shower heads, is up for sale in a deal that could fetch upwards of $400 million, according to four sources with knowledge of the process.
Water Pik's owner, New York-based private equity firm EG Capital, is being advised by Harris Williams and the process is in the early stages, the sources said. The sources declined to be named because the matter is private.
Harris Williams and EG Capital could not be reached for comment.
EG Capital had previously hired Goldman Sachs (GS.N) in 2010 to sell Water Pik, the sources said.
The Fort Collins, Colorado-based company is likely to sell to private equity, the sources said, as its two different businesses make a sale to a corporate buyer more difficult.
Water Pik makes items in the oral health space including flossers and electric toothbrushes, where it competes with Procter & Gamble Co (PG.N) and other big companies. Its namesake product, the Water Pik Water Flosser, cleans teeth by using a pump to send a water jet through a plastic tip.
The company also makes shower heads.
(Reporting by Olivia Oran and Martinne Geller in New York; editing by Matthew Lewis)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.